BBDM3303

ENTREPRENEURSHIP
LECTURE 1
 ACADEMIC STAFF
Mr. James Teo, BAcc(Hons), MBA

Senior Lecturer, FAFB, TAR UC

Course Leader, Lecturer (KL Main Campus), Tutor for
BBDM3303 Entrepreneurship
Office: Level 3, FAFB Building, East Campus
Mobile: 016-611 5311 Facebook: https://www.facebook.com/jameskpteo
Email teokp@tarc.edu.my (w.e.f. 21 October 2017)
Other tutors: Johan Lim (FT), Roland Cheng (FT), Augustin Lee, Richard
Chia, Vasudevan, Wong Eng Dea, Ong Tee Sin, Dr Chong Sze Thiam,
Jerry Fong, Phang Yew Fook, Ms Looi Soo Sheng, Ms Rosalind Joyce
Number of Programmes/Students = 12/1,783
Consultation time: TBA
Penang Branch Campus: 3RAF (M) & 3RAF(S) Lecturer-in-charge:
Dr Jocelyn Lee
 ASSESSMENT METHODS

Coursework (100%)
NO FINAL EXAMINATION (HOORAY!!!!!)
Lecture briefings: 1 hour per week for 14 weeks of study
Tutorial: 2 hours per week for 13 weeks (start Week 2)

There are THREE (3) components of Coursework (details as

per Coursework Specs to be issued latest by Week 2)
CW1 (Individually-Assessed) = LADE (20%)
CW2 (Group-Assessed) = Business Plan (50%)
CW3 (Individually/Group-Assessed)= Pitching (30%)
 ASSESSMENT METHODS

Open the Draft Coursework Specs document and highlight:

CW1 (LADE - 20%) : Important linkage between this and the

previous weeks Lecture! Lecture attendance is not compulsory but
if you do not attend lecture, you may suffer the consequences of low
marks or even failure of CW1
CW2 (Business Plan - 50%) : Lecturer (during lectures) & tutors
(during tutorials) will teach/consult students to prepare a sound
business plan. NOTE: MyPec (for Co. registration and for
application of bank financing/loan) ALL STUDENTS MUST
ATTEND THE BRIEFING BY MyPECs representation Mr
AuYong at the start of next weeks lecture (Week 2 Lecture).
CW3 (Pitching - 30%) : Tutors (in at least one tutorial will
prepare students to pitch properly which is very unlike the usual
presentations)
 Definition of Entrepreneurs Today

Entrepreneurship is the process of creating something

new and assuming the risks and rewards (Hisrich,
2008).

Four aspects of being an entrepreneur today:

Involves creation process.

Requires devotion of time and effort.

Involves rewards of being an entrepreneur.

Requires assumption of necessary risks.

In other words, entrepreneurship is a dynamic, interactive process
involving the four dimensions of:

1.An individual with experiences and traits, like need for

achievement and internal locus of control.

2.Working within an environment that has resources like capital and

suppliers.

3.A venture organisation that has a team and competitive

strategies.

4.A process of recognising an opportunity, accumulating

resources, producing and marketing a product, building an
organisation, and responding to government and society.
 EntrepreneursChallenging the Unknown
Entrepreneurs
Recognise opportunities where others
see chaos or confusion
Are aggressive catalysts for change
within the marketplace
Challenge the unknown and
continuously create the future

2009 South-Western, a part of Cengage Learning. All rights

reserved. 17
 Our Entrepreneurial Economy
The Importance of Entrepreneurship to Society
Entrepreneurs fulfill the unlimited needs and wants of the
community.
Entrepreneurs create choices through innovative and creative
production techniques.
Entrepreneurship generates new, improved (better quality),
and more cost-effective ways of doing things or making a
product.
Entrepreneurship results in more new start-up businesses, thus
creating more job opportunities.
Entrepreneurship results in a better quality of life with new and
improved products and services

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 ENTREPRENEURIAL FEELINGS

Entrepreneurs come from a variety of back

grounds, family situations & work experiences
 LOCUS OF CONTROL

an attribute indicating the sense of control that a

person has over life

Internal locus of control

These people believe that they can control their own destiny &
make decisions at their own.

External locus of control

These people believe that their lives are controlled by outside
forces & external forces influence their decisions.
 Feelings About Independence
and Need for Achievement

Need for independence

Being ones own boss one of the strongest needs of an
entrepreneur.

Need for achievement

An individuals need to be recognized.
 Risk Taking

Risk takingwhether financial, social, or

psychologicalis a part of the entrepreneurial
process.
Successful entrepreneurs are not gamblers
They manage risks by transferring it to others
(share financial & business risks)
 Common Characteristics of Entrepreneurs
Commitment, Calculated risk taking
determination, and Tolerance for failure
perseverance
High energy
Drive to achieve level
Opportunity orientation Self-confidence
Initiative and and optimism
responsibility Creativity and
Persistent problem Innovativeness
solving Vision
Seeking feedback Independence
Internal locus of control Team building
Tolerance for ambiguity
2009 South-Western, a part of Cengage Learning. All rights reserved. 213